Binance Will Add Fiat Pairs with the Russian Ruble

The lack of fiat-to-crypto trading pairs is perhaps the biggest disadvantage of Binance, one of the most popular cryptocurrency exchanges in the world. While Binance has introduced credit card crypto purchases earlier this year, this method of purchasing cryptocurrency is among the most expensive options available in terms of fees.

Now, Binance CEO Changpeng Zhao has announced that the exchange will be adding direct fiat currency pairs, starting with the Russian ruble.

In an appearance at the Open Innovations conference in Moscow, “CZ” stated:

“We’re adding support for fiat trading. In about two weeks or so, we should have support for Russian ruble trading, direct.”

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On his Twitter account, Chanpeng Zhao also hinted that the Turkish lira could also see its own trading pairs on Binance in the future.

Various exchanges affiliated with Binance such as Binance US, Binance Singapore and Binance Jersey already feature fiat-to-crypto trading pairs. The main Binance exchange, however, still uses stablecoins such as Tether and Paxos Standard Token as a substitute for fiat currency. If the exchange successfully adds fiat-to-crypto trading to the mix, the move could further strengthen Binance’s dominant position in the cryptocurrency exchange landscape.